Federal Direct Parent Loan (PLUS) Application and Instructions

Federal Direct Parent Loan (PLUS) Application and Instructions

Purpose: Parents who are not listed on the student's FAFSA must complete and submit this application prior to the certification of a Federal Direct Parent Loan for the student attending TSU.

The Federal Direct Plus Loan allows parents to borrow federal funds on behalf of a dependent child who is an undergraduate student. The U.S. Department of Education will obtain a credit report on the parent borrower listed on this pre-application. This credit check will be performed prior to the approval of a PLUS loan. A parent borrower who is deemed to have an adverse credit history may be eligible to obtain a PLUS loan with an endorser, or the student may be eligible to borrow additional unsubsidized loan funds.

Process: ? Complete, sign and return Federal PLUS Loan Application to the Office of Student Financial Assistance at the address listed above. ? If the Federal PLUS Loan is approved, the parent will be directed to Master Promissory Note (MPN) . (Please note a pin

number will be required to complete the MPN electronically.) ? The TSU Financial Aid Office will complete the certification within 5 working days after receiving the form. ? The parent borrower will receive a disclosure statement from the U.S. Department of Education. ? The Federal PLUS Loan funds are released to Texas Southern University after the signing of the MPN and receipt of the certification from

TSU. The funds will be applied to the student's account within three days of receipt of the check. ? Excess funds are refunded to student and/or parent within 14 working days. (Please reference section D below). ? If the Federal Plus is denied, contact the Office of Student Financial Assistance at 713-313-7071 to discuss alternative forms of financial

assistance.

To determine whether certification of the Federal PLUS loan has taken place, the student should visit the TSU MyWeb account under the account summary by term or contact the Financial Aid office. The U.S. Department of Education must have a signed Master Promissory Note from the parent and the certification from TSU prior to releasing the Federal Direct Plus Loan funds to TSU.

A.Student's Information: (Print clearly in black or blue ink. Check appropriate semester(s) student is applying for aid)

Fall 2017

Spring 2018

1. Student's Last Name

Summer 1 2018

2. Student's First Name

Summer 2 2018

MI

3. Student's Social Security Number/ T-Number

4. Student's Date of Birth

B. Parent's Information 1. Parent Borrower's Last Name

2. Parent Borrower's First Name

MI

3. Parent's Social Security Number

4. Parent's Date of Birth

5. Permanent Street Address City, State, Zip Code

6. Parent's Home Telephone Number

7. Parent Driver's License: State and Number

8. Parent's Email Address

1. Is the parent borrower a U.S. citizen? 2. If no, is the parent borrower a permanent resident?

Yes Yes

No No

a. If yes, please provide a Resident Alien Number_________________________________ 3. Is the borrower currently in default on a federal education loan or owe a refund on a federal student grant? 4. Total Loan Amount Requested $_______________________________

Yes

No

C. Information Accuracy I,___________________________________________(Parent listed in B1 and B2 above) am the (mother, father, stepmother or stepfather) of

__________________________________ application is both truthful and accurate.

(Student listed in A1 above) and acknowledge that all information provided in this

Parent's Signature: ___________________________________________________________

Date: __________________

D. Directions for disbursing Parent Loan funds that exceed the total allowable outstanding charges. If you wish to have any credit balance created by the Federal Plus loan program refunded to your student, you are required to enter this information during the application process at . The Student Accounting Office will disburse any funds in excess of the allowable outstanding charges on the student's TSU account according to the designation made during the application process. Verify the name and address of the parent prior to exiting the process to ensure you have provided the correct information.

Parent's Signature: ___________________________________________________________

Date: __________________

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